Nanjing Iron & Steel Co., Ltd. (Nanjing Iron & Steel) announced it will provide guarantees for three subsidiary companies. The company will provide a guarantee of up to 24 million USD for Indonesia Jinrui New Energy Technology Co., Ltd. (Jinrui New Energy), a guarantee of up to 30 million USD for Indonesia Jinxiang New Energy Technology Co., Ltd. (Jinxiang New Energy), and through its subsidiary Anyang Fuxing Heliyi New Materials Co., Ltd., it will provide a guarantee of up to 22.95 million yuan for Hunan Fuxing Heliyi New Materials Co., Ltd. (Hunan Heliyi).These guarantees are in accordance with Nanjing Iron & Steel's plan to apply for credit guarantees for wholly-owned and holding subsidiaries in 2024. As of the announcement date, the new guarantee amount...Show More

Nanjing Iron & Steel Co., Ltd. (Nanjing Iron & Steel) announced it will provide guarantees for three subsidiary companies. The company will provide a guarantee of up to 24 million USD for Indonesia Jinrui New Energy Technology Co., Ltd. (Jinrui New Energy), a guarantee of up to 30 million USD for Indonesia Jinxiang New Energy Technology Co., Ltd. (Jinxiang New Energy), and through its subsidiary Anyang Fuxing Heliyi New Materials Co., Ltd., it will provide a guarantee of up to 22.95 million yuan for Hunan Fuxing Heliyi New Materials Co., Ltd. (Hunan Heliyi).These guarantees are in accordance with Nanjing Iron & Steel's plan to apply for credit guarantees for wholly-owned and holding subsidiaries in 2024. As of the announcement date, the new guarantee amount provided by the company for Jinrui New Energy in 2024 is 52 million USD, with a total guarantee balance of 1.351 billion yuan; for Jinxiang New Energy, the new guarantee amount is 0 million yuan, with a total guarantee balance of 1.348 billion yuan; for Hunan Heliyi, the new guarantee amount is 10.2 million yuan, with a total guarantee balance of 161.41 million yuan. The company stated that there are currently no overdue guarantees, and this guarantee does not have counter-guarantees.As of the announcement date, the total new external guarantees added by Nanjing Iron & Steel and its wholly-owned and holding subsidiaries amount to 9.634 billion yuan, accounting for 36.30% of the company's most recent audited net assets; the total amount of new external guarantees added for holding subsidiaries is 8.25 billion yuan, accounting for 31.08%. The total guarantee balance of the company and its wholly-owned and holding subsidiaries for external guarantees is 7.074 billion yuan. Nanjing Iron & Steel has not provided guarantees for its controlling shareholders or actual controllers and their related parties, nor are there any overdue guarantees.